Private sector lender Axis Bank will keep its focus on scaling up subsidiaries to let these companies gain more prominence in their respective segments, chief executive Amitabh Chaudhry said in its FY21 annual report. “...our focus still continues to be on further scaling up the subsidiaries so that they gain higher market share in their respective businesses," said Chaudhry in his message to shareholders. “Axis AMC continued to grow faster than the industry to deliver 2x growth in profits while our retail brokerage subsidiary delivered 10x growth in profits. Axis Capital continued to maintain its dominance in equity capital markets with 52 deals. Even as investments in operating subsidiaries over last two years have remained flat at ₹1,815 crore, these operating subsidiaries delivered 17% compounded annual growth rate (CAGR) in net worth, said Chaudhry.

Source: Mint July 05, 2021 11:48 UTC